Copper reportedly weighing IPO as BitGo debuts on US markets

Digital asset custodian Copper is reportedly exploring an initial public offering, according to a CoinDesk report cited by Cointelegraph, coming shortly after rival BitGo debuted on US markets; Deutsche Bank, Goldman Sachs and Citigroup are named as banks involved. A Copper spokesperson said the company is not currently planning a public listing but declined to comment on whether it is in early-stage talks about going public.

Copper, which is backed by Barclays, provides institutional-grade custody, settlement and collateral management services intended to help financial institutions store and move digital assets while reducing counterparty risk. Cointelegraph noted that Cantor Fitzgerald selected Copper as a Bitcoin custodian alongside Anchorage Digital and that Copper has partnered with Coinbase to facilitate off-exchange settlement for institutional clients.

The move comes amid rising institutional interest in digital assets and shifting US regulation; the report says a second crypto custodian moving toward public markets would further reinforce the sector’s role as financial market infrastructure, comparable to traditional clearinghouses and custodial banks.

BitGo priced its IPO at $18 per share last week, raising more than $200 million from the sale of 11.8 million Class A common shares, though its stock has since fallen below the IPO price and is trading at about a $1.4 billion market capitalization, illustrating volatility for newly listed crypto firms.

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